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Financial Conduct Authority says case should be ‘wake-up call’ to City of London
Pay, appointments and exits revive tensions over chief who seemed to have strengthened his position
Plus, Mike Ashley battles Morgan Stanley and the Internal Revenue Service sets its sights on private jet travel
Mark Sorrell and Gonzalo Garcia were excluded from operating group set up under chief David Solomon
Mirae Asset’s $43bn subsidiary names Ryan O’Connor as chief executive
Family office to provide first outside funding for credit asset manager 5C Investment Partners
Remuneration of $31mn comes after boss pared back bank’s lossmaking push into retail banking
Judge tells Mohammed Zina that his crime ‘struck at heart of financial markets’
Mohammed Zina convicted in case brought by Financial Conduct Authority
Viva Las Basis
Rates are still going up
FRED Spread Redemption
Mohammed Zina is facing six counts of insider dealing and three counts of fraud
‘Say the line, David!’
Houthi rebels are highly unlikely to be able to inflict global economic pain
Plus, a big corporate spin-off heads to New York and a Spanish M&A machine
Co-head of investment bank and trading business calls time on almost three-decade career at firm
Investor and depositor faith instilled by powerhouse spread of business has helped lower cost of capital
Wall Street banks’ stock values begin to converge after wealth management profitability warning
A return to the 2021 level of M&A is unlikely this year
Banks to the future
Slow year for investment banking in 2023 depressed earnings at Wall Street rivals
Asset management chief Marc Nachmann warns firms can no longer rely on leverage and cheap money to fuel returns
Banks now see that offering support to those struggling is a good way to woo and retain workers
Lower pay in the trading business was blamed for a number of high-profile departures last year
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